“The Statutory Audit Regulation in the EU: The Experience of France’’ - the representatives of the SARAS attended the webinar organized by CFRR

On February 9 to 12, within the framework of the STAREP project, the four-day long international webinar was held by CFRR: “The Statutory Audit Regulation in the EU: The Experience of France”. 

The objective of this series of webinars was to enhance participants’ knowledge about public oversight and audit quality assurance systems. At the event led by CFRR, the representatives of the World Bank and H3C provided the audience with presentations. 

The webinars were delivered in close cooperation with H3C. The participants received important information about the key issues of the audit oversight, on the example of one of the leading countries of the EU: 

Structure and Legal Framework - at the first meeting, the speakers delivered presentations to the audience on topics such as the mission and role of H3C, structure, legal framework, cooperation with other countries’ oversight bodies and international organizations.

Registration of auditors, standard-setting, and continuing professional education - on the second day of the webinars participants learned about the development and setting process of auditing standards and ethics code in France, as well as legal requirements related to registration of auditors and audit firms including third-country auditors and continuing professional development requirements to maintain such registration. 

Quality control - the third meeting was dedicated to the reviews of quality control technical details and inspections. The participants familiarized themselves with the legal framework, processes, and approaches existing in France.

Investigations and enforcement system - at the final session the audience learned about the sanctions, ways of remediation, investigations and enforcement system applicable in France. 

In addition to representatives of STAREP countries, this event was attended by participants from Albania, Bosnia and Herzegovina, Kazakhstan, Kosovo, the Kyrgyz Republic, and Serbia. Each session was followed by a Q&A that was thoroughly answered by the French colleagues.